Bitcoin FAQs - Learn more about BTC

Everything you need to know about Bitcoin inside of Exodus.


In this article:


How do I create a new Bitcoin address?

By default for new Exodus wallets, your Bitcoin wallet inside of Exodus will only use one SegWit (bc1q) address. If your Legacy address is enabled, you will also be able to use only one Legacy address.

However, you can enable the feature to generate multiple addresses for your BTC wallet. Once enabled, your wallet will create a new Segwit address every time after receiving a BTC transaction.

Please note: You can continue to receive Bitcoin at any of your old addresses. To export all of your wallet's Bitcoin addresses, please see the following:

Follow these steps to turn on multiple addresses in your wallet:

Desktop

1
In your Bitcoin wallet, a) click the More icon in the top right corner and b) click on Advanced Options.

2
Locate where it says Multiple Addresses and toggle on.

Mobile

1
Open your Bitcoin wallet and tap on the Settings icon in the top right corner.

2
Locate where it says Multiple Addresses and toggle on.


What is the difference between different types of Bitcoin addresses?

The most visible difference between different types of Bitcoin addresses is the address formats.

There are four address types:

  • Legacy (P2PKH): addresses start with a 1.
  • Nested SegWit (P2SH): addresses start with a 3.
  • Native SegWit (bech32): addresses start with bc1q.
  • Taproot (P2TR): addresses start with bc1p.

All four addresses can be used to send and receive Bitcoin. So what's the difference? Well for starters, not all wallets support all four address types. 

Legacy addresses are the original BTC addresses. You can expect all wallets to support sending and receiving to Legacy addresses. However, not every wallet or service has upgraded to support the new SegWit address formats and therefore, some wallets can only send to Legacy addresses. Luckily, if someone wants to send you BTC from a SegWit address, your Legacy address will be able to receive it just fine. 

Also, please keep in mind that Trezor's desktop and browser app Trezor Suite refers to Nested Segwit as Legacy Segwit although they are the same BTC P2SH address type.

Please note: Sending Bitcoin to your SegWit address has lower fees than sending Bitcoin to your Legacy address.

Taproot addresses are a new SegWit address type. However, Taproot addresses are not automatically supported by wallets that support existing SegWit addresses. Exodus supports sending to Taproot addresses. So, you can send Bitcoin to the Taproot address of a wallet or exchange service from Exodus (except from your FTX portfolio).

Currently, you won't be able to receive Bitcoin to a Taproot address. If you're interested, you can track the uptake of the Taproot upgrade on Bitcoin Wiki.


What Bitcoin addresses does Trezor support on Exodus?

Exodus Supports sending to all four types of Bitcoin addresses. However, you can only receive funds to your Exodus Native SegWit address (begins with bc1q) or your Legacy address (begins with 1).

Exodus does not currently support receiving BTC to Nested SegWit or Taproot addresses.
Trezor in Exodus Supports sending to all four types of Bitcoin addresses. However, you can only receive funds to your Exodus + Trezor Native SegWit address (begins with bc1q) or your Nested SegWit address (begins with 3).

Exodus + Trezor does not currently support receiving BTC to Legacy or Taproot addresses.

How do I enable and find my Legacy address?

By default, when you open your Bitcoin wallet inside of Exodus and click on Receive, you will be shown your SegWit address.

To also see your Legacy address, follow these steps to enable it in your wallet:

Desktop

1
In your Bitcoin wallet, a) click the More icon in the top right corner and b) click on Advanced Options.

2
Toggle on Legacy Address and return to your Bitcoin wallet.

3
Click Receive.

4
Finally, click the arrows to the left and right of the QR code to see both your SegWit and Legacy receive addresses.

Mobile

1
Open your Bitcoin wallet and tap on the Settings icon in the top right corner.

2
Toggle on Legacy Address and return to your Bitcoin wallet.

3
Tap on the Receive icon.

4
Finally, tap the arrows to the left and right of the QR code to see both your SegWit and Legacy receive addresses.


How does Exodus calculate Bitcoin transaction fees?

Exodus tracks changes in the Bitcoin Network (BTC) and adjusts the fees accordingly using dynamic pricing models. These network fees are 100% paid to the Bitcoin Network (Miners) to ensure Exodus transactions are fast and delivered promptly.

When popular blockchain networks become congested, determining the right fee can make a big difference for your transaction. If a transaction fee is set too low, miners will not have an incentive to prioritize your transaction on the network resulting in delays and slow confirmations.

Exodus will automatically optimize transaction fees to make sure the wallet is paying the lowest fee that will get the transaction confirmed on the next block. This means that Bitcoin transactions should confirm in around 10 minutes.

How to enable and set custom Bitcoin fees?

Follow these steps to set your own Bitcoin fees.

Please note: Enabling custom fees will automatically turn on RBF.

Desktop

1
In your Bitcoin wallet, click Send.

2
Click the Advanced Options icon in the top left corner to enable the advanced sending options.

3
Now you will see a slider:
  • Moving it to the left will have lower fees, but may take some time to confirm.
  • Moving it to the right will have higher fees, making it much more likely to confirm faster.

You can also click manually input your custom fee by clicking the pencil icon.

That’s it, now you have set your own fee to send your Bitcoin, all you have to do is choose how much Bitcoin you want to send, make sure you send it to the right address, and send it!

Mobile

1
Open your Bitcoin wallet and tap on the Settings icon in the top right corner.

2
Locate where it says Custom Fees and toggle on.

3
Tap on the Send icon.

4
Tap on where it says Advanced above where you input the address.

5
Now you will see a slider:
  • Moving it to the left will have lower fees, but may take some time to confirm.
  • Moving it to the right will have higher fees, making it much more likely to confirm faster.

You can also click manually input your custom fee by clicking the pencil icon. Once adjusted to the desired fee, tap Confirm.

That’s it, now you have set your own fee to send your Bitcoin, all you have to do is choose how much Bitcoin you want to send, make sure you send it to the right address, and send it!


What should I do if my transaction is stuck?

There is a chance that if you set your fee too low your transaction will get stuck and might take a long time to confirm.

Do not worry! Exodus has a built-in feature for you to ensure you can speed up your slow transaction.

All you need to do is open your Bitcoin wallet on your desktop or mobile device, find the transaction that has been stuck pending for too long, then click/tap it to see more details and finally click/tap Accelerate.

Please note: You will need some Bitcoin available in your wallet to accelerate a transaction. If you chose to send All your Bitcoin then you will not be able to accelerate your transaction.

This will resend your transaction with a higher fee to ensure it gets confirmed for you.

Desktop

Mobile


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